P Company has provided the following data for the month of March: Beginning Raw materials inventory P25,000 Work-in-process inventory 16,000 Finished goods inventory 36,000 Ending P30,000 18,000 59,000 March Activity P71,000 83,000 74,000 5,000 Direct materials purchases Direct labor incurred Manufacturing overhead Indirect materials included in overhead Prepare a Schedule of Cost of Goods Manufactured and a Partial Income Statement Showing the Cost of Goods Sold

P Company has provided the following data for the month of March: Beginning Raw materials inventory P25,000 Work-in-process inventory 16,000 Finished goods inventory 36,000 Ending P30,000 18,000 59,000 March Activity P71,000 83,000 74,000 5,000 Direct materials purchases Direct labor incurred Manufacturing overhead Indirect materials included in overhead Prepare a Schedule of Cost of Goods Manufactured and a Partial Income Statement Showing the Cost of Goods Sold

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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